New Program: $50,000 in Fellow Taxpayer Money if You Don't Pay Your Mortgage AND (Preferably) Don't Have a Job | Markets — Financial Market Summaries at SFGate

New Program: $50,000 in Fellow Taxpayer Money if You Don't Pay Your Mortgage AND (Preferably) Don't Have a Job | Markets — Financial Market Summaries at SFGate: "In the big picture, $1 billion is a pittance (what a billion amongst friends), but the latest federal program to staunch the housing disaster is like all the others - troubling, unfair, and bemusing all at once. Here is the kicker in this one, you only qualify if you lost income (i.e. thru job loss, underemployment etc). Which I assume would make it hard to make the mortgage payment... but what do I know.

Essentially if you borrow $50K from the government your fellow citizen (interest free), and keep your payments on time... each year 20% of the loan is forgiven. Make 5 years of payment and you get handed $50,000 for free, for acting like anyone else who pays their mortgage. Step right up..."